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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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Message: Re: Clues
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May 18, 2013 09:22AM

That's how I interpretted it at first but now I think that might be incorrect.

"Drill east of current Resource Model to test area treated as waste in Feasibility Study."

The "Resource Model" is our Measured, Indicated, and Inferred that our drilling has identified. We know that 171M tonnes of the inferred within the Resource Model had to be treated as waste. However, this says east of the Resource Model, which implies that this area is simply undrilled (not Measure, Indicated, or Inferred). It also says it had to be treated as waste in the Feasibility Study, which means that this rock had to be moved as part of the mine life.

Does this mean we have 3 separate types of waste rock:

1. The 171M tonnes within the Resource Block Model that is waste because it was only classified as Inferred

2. The waste rock east of the Resource Block Model that is waste because it was simply never drilled

3. The waste rock within the Resource Block Model that is actually waste because the drilling identified it as having no mineralization

If that is correct, it means our Feasibility Study is lower quality than I thought but also means we have a huge opportunity to improve the economics.

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